tv [untitled] December 29, 2011 4:31pm-5:01pm EST
all so far plus we have a chance to respond to more of your feedback this stuff that you've said about our show the comments and questions so back on november eighteenth we interviewed max kaiser he's host of the kaiser report now this was sixty days and occupy wall street in the u.s. and a day of action was going on ironically it came amidst a lot of layoffs on wall street now this was also after the technocratic governments had been installed in rome in athens and they were pressing forward at that stage in the eurozone crisis also with protests on the street here as some of our show. as the eurozone saga continues the techno craddick government of italian prime minister mario monti has won an important vote of confidence in parliament
meanwhile though on the streets of rome and athens for that matter people have protested their new technocratic leaders opposing what they call banker governments and the kind of economic measures that these technocrats want to see through now in the united states of course yesterday we also saw protests occupy wall street had a day of action with protests all over the country in new york l.a. d.c. this was of course the culmination of sixty days of this movement we ask is this about more than protests on the streets is this really about the natural war financial repression lots what financial journalist max kaiser believes he's of course host of the very popular kaiser report which airs on our t.v. now here's max taking that message to the streets of london just recently the national group. what does it mean to the.
people who live on pension the townspeople in the. higher rate of interest to support their retirements or their standard of living. they're being forced against their will. to subsidize speculators. now on the streets of london to our studio he described his visitation from the front line of financial war reporting as he describes it we interviewed him earlier take a look at him actually talk a lot about financial repression and. using it as a weapon against savers in this war between savers and speculators but for everyone to kind of get to understanding what exactly is the war. well to put this in the context think of the jim crow laws remember in america that the jim crow laws which were put in place remember the signs colored only for blacks or white only for
white whites sat at the front of the bus of blacks out of the back of the bus in america they have their financial jim crow laws if you are a white goldman sachs partner you can borrow money at zero percent or less than zero percent of anyone else you're borrowing money at sixteen percent twenty percent thirty five percent payday loans annualizing at three hundred percent so they're using interest rates to create a two class society those who are on the inside who get zero percent interest charge to them and everyone else who is basically underclass or permanent underclass in the united states and around the world who are charged exorbitant fees to borrow money that's almost a financial apartheid if you will and it's orchestrated on purpose to create this huge social divide for profiteering purposes and this is something that you are very outspoken about all over the world and you've also been pretty outspoken about euro zone and technocrats there that are running out roman athens now and i'm
actually really curious your take on the leaked document that came out from germany's foreign ministry actually that reportedly reveals that germany is preparing for defaults by large euro zone nations with officials planning for a european monetary fund that would take alien countries into receivership and run their economies actually want to bring our producer dimitri coffee and i sent to ask you about it. you don't. my question has to do with with exactly that now we know that mass rich which happened shortly after the fall of the berlin wall that was a treaty and european union it was arguably the most important of the treaties because it came at a time where germany was looking to reunify france was very concerned about germany and so they developed this next leg of the european dream to kind of bind germany's legs and its and its feet so that it would not be able to do to the continent what it did since the time of bismarck and especially world war i world war one and two
what do you see as far as germany's new role in this in this this financial kind of situation in europe now are they are we going to see a bigger role for germany and should that be something people should be concerned about. well first of all i think we need to get rid of this term technocrat because we're not talking about technocrats we're talking about bank bankers these are bankers they're on elected they've been put in place to take over from democratically elected government officials and these bankers all are connected to one banking organization or two or three banking organizations and they're all looking to create this european wide credit facility that they talked about of the devil is a couple of years ago that they wanted to create these huge global credit facilities as a way to get a play on the global economy from an organ banks that are operating outside of any sovereign say any jurisdiction and germany of course they're playing this extremely well and i'm i think of the first one really on national international television
and talked about the role of germany they are want to let the tonic genie out of the bottle which is what's happening here remember they euro as you point out was there to ameliorate the possibility of germany or reunify germany being breaking out and stretching its legs as a superpower again but now with the eurozone breaking up you have a real unified germany you have people talking about bringing back the dikes mark they have the. bank ready to go so you could see either germany breaks out and the you have the emergence of a superpower germany four point zero as i call it or there are within the eurozone but they're calling all the shots and everything is going through berlin and as effectively they're running the show in europe you know germany has always wanted to run all of europe and now they're clearly in that position david cameron's position is like lord chamberlain back in world war two he seems to be appeasing the germans he seems to be unable to really articulate anything strong enough to say we don't why in this position anymore and germany is laughing they're saying
yeah well we know the story but i think the this time they have dreams of getting it right when bigger picture what about the rest of the world i mean right now speaking at banks there's a report that central banks are loading up on gold in the third quarter of the financial times as saying it's because gold prices were so low in september i'm curious why you think there's a gold rush. well central banks know that the figure out currency era is coming to a close the euro is going to break up the dollar's looking weak the average lifespan of a currency is forty seven years and gold is always been the defacto go to reserve currency in times of trouble and central banks know that we're going to go back to a gold standard robert zoellick spent hinting at it a lot of near putin's been talking about it so this is in the cards now it's on the table and it makes perfect sense as a way to resolve this global debt crisis everyone's got to write off these debts and and basically they've got to do it against gold so the price of gold will
continue to go higher as both the emerge re-emerge as a reserve currency and a panic buying because people realize when they see it like that m.f. global basically stealing customers accounts this is not using derivatives to create a ponzi scheme which is actually reaching in and stealing money they're like wait a minute the whole system is breaking down i better buy more physical gold and even well known pundits who should know better are being caught in the futures market when they should have physical gold. ring of my grandma and i think your diagnosis that we were just talking earlier this week is taking it a subject we were also talking to james records yesterday who sees the entire future of the global monetary system as a race between s.t.r. as which are basically an i.m.f. currency and gold as he sees gold is waiting i know you've talked to james records about the g twenty wanting to pawn germany's gold do you see this as a race and if so who's winning. well the i.m.f. and the s.t.r.
will become a currency in which to roll up all of these bad debts in an attempt to extend and pretend yet again but it's going to be a highly inflationary and it simply won't work because you're not underlining the underlying systemic problem of massive fraud so rickards i totally agree with records as he sees this thing playing out his book currency wars is a fantastic read and there's more talk as a matter of fact in europe now they are replicating the types of war games that records talks about a currency war that were conducted at the pentagon to simulate financial wars and currency wars now in europe they're doing the same thing so this idea of using weapons of mass financial destruction as warren buffett call them as actual way to antagonise tickly attack countries is getting more play and we saw that in greece you know greece's big problem is that for every bailout package they came up with for every ten billion dollars of bailout wall street could create
a hundred billion in credit default swaps and then swamp that market with artificial sell orders and just attack that market you know greece was put out of business by financial terrorists same thing with ireland same thing with italy same thing with spain that's were dealing with their weapons of mass financial destruction in the hands of sociopaths like lloyd blankfein of goldman sachs like jamie diamond it j.p. morgan these are the real terrorists and you know that is not the end of the story from financial journalist max i have to stick around for that. all right and our reality check segment tonight libyan leader moammar gadhafi has reportedly been killed and we are seeing images from the streets of libya of people purported. celebrating this death but we want to ask there they are there you know
these are reportedly people celebrating in tripoli. we want to ask in the united states why people are really celebrating politicians namely being the front man first i want to play you senator john mccain and what he is saying today. libyans right now about a very grateful to all of those are the norms of good will that if we can help them succeed in getting these weapons on the helping them with their organize their government to help them with their one of a lot of things they'll be a lot of for the will here and that's important and i think we're seeing that. ok so before you assess what he means by why it's important to have goodwill in this part of the world before you get to begin about democracy or anything like that i want to play you john mccain speaking on a visit to tripoli with the u.s. congressional leaders in libya late last month american investors are more than eager to come and invest here in libya and we hope that and believe that they will
be given an opportunity to do so and it's pretty clear that as long as fighting is going on it will be more difficult to attract that. investment. american investors are very excited and we know that with libyan leader moammar gadhafi gone people are probably hoping this means that fighting is over so as the saying goes a picture is worth a thousand words we think this one says it all these are nike's on some of the libyan rebels and this probably sounds up who is maybe the most excited about moammar gadhafi his death guys the limits now for corporations still ahead you've been an active audience watching and commenting on our show asking questions coming up after the break we will respond. well to.
all right it's time now for word of the day where i break down a financial word or term for our very smart viewers but maybe just not the financial expert in the crowd now today the video experts may not actually even know this word but you'll hear it a lot from our guest max kaiser and it's job it stands for this global insurrection against banker occupation and you won't see this term on the pages of financial times i'm doubting but you will see it online here for example is the facebook page dedicated to giago and let's see another example from online we actually found it on the message board on tom hartmann's website and you may know tom he broadcast
every night his show right here on our t.v. so there it is on his website so what exactly does it mean well just like you may not find it in the financial times you won't find the definition in webster's or invested but you will find it on urban dictionary and here's what it says a comprehensive and sophisticated assault organized by commoners in the work force against a small elite group of bankers and politicians working harmoniously to destroy the free market now in the view of job oprah ponens and activists famous contemporary insurrections include to rear square in egypt syntagma square in athens and of course wall street in new york now the occupy movement speaking of wall street is really seen as the latest worldwide manifestation of this giago phenomenon and just to give you a little reminder as of november seventeenth the media page of occupy together listed more than twenty six hundred occupy communities and towns and cities and
that's worldwide now occupy. wall street is seen as the first time that the job a movement really moved to the epicenter of finance before that as you can tell from the other examples i gave you in the view of job of the insurrection could be conflated with other ills perceived like the role of mubarak in the case of egypt or the kleptocracy as perceived in greece and that financial experts and smart viewers is giago. now as i just showed you as occupy wall street saw a massive day of action yesterday and we saw images like these from new york of protests and arrests and police violence and some of the footage right there you can see an arrest a lot of people working on wall street actually got pink slips it's the second week
of major layoffs and job cuts on wall street are supposed to be pretty brutal coming up here it's expected about seventy five thousand people could be losing their jobs according to the announced cuts by banks ranging from credit suisse to bank of america g.d.p. morgan citigroup goldman u.b.s. all of those have announced that they're shutting jobs so hey all we're going to see bankers start occupying wall street lots of i asked anshul journalist max kaiser and here is what he said. well i think we're at a historic inflection point where you do have this global insurrection against a banker occupation as i call it you have a global insurrection you have a thousand protests around the world and because of the credit collapse to start in two thousand and seven the underlying banking business is starting to fray at the edges so these desperate attempts to create an s.t.r. european wide credit facility these are really last gasp efforts to try to keep
a failing system afloat and of course a lot of people are falling by the wayside people are getting fired those people who are newly fired nearly let go of these banks and bankers brokerages where they end up do they join the picket line historically what happens is when the middle class starts to rise up that's when you have fertile ground for every change we saw this throughout history the the poorer classes the lower classes they don't necessarily have what it takes to overthrow a government but when the middle class is thrown to the street they have what it takes to overthrow a government and quite frankly i mean that what i see in the united states is just that i think this is a turning what i saw the entire white house surrounded recently by environmental activists you know that's a pretty strong statement and this is only getting more. intense not max is that why you're not in the u.s.
dare i ask i mean you do your show how to have parents i believe. well stacy herbert we do or shows that our films and we go where the action is you know when we started making films ten years ago nobody in the united states would play those films because we were exposing bank fraud and that's like you know if you're a roman you're attacking the vatican you know in america wall street is their church so if you come out with these films that are attacking wall street you don't get a lot of play in the united states so we ended up in the middle east and in europe and in other locations and that's pretty much been the story and so the u.s. like the cold spouse is really the last to know in the global economy that there are there are trusted public and banking officials have been cheating on them on mercifully and causing a tremendous amount of problems and things are really going to heat up there i think and now you're fighting against wall street you're fighting against out all the things you're talking about the problems with bankers in the banking system but
you weren't always you actually used to be a broker and you were on t.v. even then we found a c.b.s. report that you were in when you were responding to it was in a reporter's package about when wall street went into bear territory and it was about yabbies the impact on you at these actually want to play a little bit about. the idea of a yuppie you know money. and without stopping that if that's not the case anymore i personally am good to see it i'm sick of your piece you know more your future no more yuppie magazines no more yuppie clubs no more yuppies great the silly thing we can push if anything we got rid of yuppies and i'm happy about it now very quickly you obviously weren't a fan of gabby's then but you were a broker so how did you go from working on wall street to occupy innit. well that clip happened right after the stock market crash of one thousand nine hundred seven which was the first globalized synchronized crash and we've had many sense then but it's always been about competition even in the late eighty's and early eighty's
when i started on wall street you're always competing against like the goldman sachs and the j.p. morgans and they always active actions insider connections so as the world has changed and as the politics of the world is changed as are seeing a bull market in dissent and we're seeing people monetize their dissent i'm just i'm still competing with those guys i'm with the side of the bull market winners in this new paradigm and the goldman and j.p. morgan i'm still competing with them i still want to put them out of business and we're going to triumph over them so it's all about competition with me and i always like to be in the right side of any war i like to be on the winning side i think they're going to be on the losing side and we see them breaking up right now and jamie diamond i mean come on every single day we're finding out more salacious scandalous material of this guy and his days are numbered as c.e.o. of that organization well next time and that was max kaiser financial journalist host of course of the kaiser report.
all right time for viewer feedback a chance for us to respond to your comments and questions and max keiser his interview sparked an interesting rather heated discussion on bankers now about the layoffs on wall street one viewer said this looks like it's time for the bankers to apply for mcdonald's retail or bank teller positions now i actually don't know if even that is a safe bet i don't know if you recall mcdonald's national day of hiring in april but if you don't here is a glimpse of it. in the rain hoping for a golden chance at the golden arches mcdonald's set out to hire fifty thousand
workers in one day here in cleveland the lines were long good started early so you can see it drew quite a crowd reportedly nine hundred thirty eight thousand applied sixty two thousand were hired that was a six point two percent acceptance rate neck and neck with harvard university's in fact you had a greater percentage of applicants getting into princeton stanford and yale than applicants at mickey d's that day of hiring now another viewer speculated that if wall street people get laid off they won't be joining joining us because their severance package severance packages most likely prohibit them from doing so now we don't know what is or isn't prohibited in a severance package but we have to say you make a really good point now another viewer said these wall street layoffs are not a good sign the most untalked about bubble in america is the services used in the financial sector now this is a great opportunity for us to show you what that really looks like because you can
see that the growth in the financial sector here has been enormous look how mentioned that the neck the financial sector has grown as a share of g.d.p. in the u.s. over about the last one hundred and fifty years it has been staggering now an obvious ron paul supporter wrote us with a creative proposal said when ron paul becomes president those are their words not mine he should appoint max as commander in chief of homeland security max could then arrest and banished to guantanamo bay all the goldman sachs j.p. morgan and global crew etc for indefinite detention where the bankers are water boarded sorry undergo enhanced interrogation now as a disclaimer we do not endorse enhanced interrogation nor get mo for that matter but it's actually a pretty good metaphor if you think about it because if. you remember a portion of get most detainees were officially deemed not feasible to prosecute
but too dangerous to release now we know that the justice department has reportedly taken a stance that a lot of these criminal cases against financial executives would just be too tough to prosecute and that's why they haven't been so then i guess the question that remains is why are bankers that could possibly have engaged in crimes that brought down the economy why aren't they doing too dangerous to release all of you to ponder on that while we'll move on to see chessmaster this viewer said most people know so little about history that they don't even know that the corporation known as the usa was taken over by the banks in one nine hundred thirty three through bankruptcy they're doing the same thing in europe today while another viewer said max you're funny about celeb but they'll just take your physical gold if they want it now i think these two viewers both touch on a historical reference which is worth clarifying and bringing up that mention of one nine hundred thirty three in the taking of physical gold well look at this this
is the executive order that united states president franklin delano roosevelt issued on may first one thousand nine hundred thirty three it require citizens to hand over their gold all the little bit to the federal reserve now violations were punishable by punishable by a ten thousand dollar fine that's a nine hundred thirty three dollars or ten years in prison now citizens had to hand over their gold at about twenty bucks an ounce then right after that the government raised the price of gold to thirty five dollars an ounce now the order was rationalized on the grounds that tough times had caused people to hoard gold stalling you get on the growth and making the depression worse well we will leave you with that little nugget if you didn't know it already because that's all we have time for that's it for our show thanks so much for watching you can continue to follow me on twitter lauren lyster even though i'm on vacation from the. no i certainly have not taken one from twitter you can e-mail us your feedback and questions to go and get out of my email account ellis during our team t.v.
america dot com and visit our you tube channel you tube dot com slash capital like how because we will be posting fresh content what explosives during the break and from everyone here at capital account how to holidays and have a great day. whether you dive from high or to the depths. catch the power of the wind or drift in the beauty of the currents. being well prepared is a must and if you're lucky. you'll never forget your experience we only need some ice cream that's going to be further. into why see. below the ice
are all signs pointing to war tensions are further strain between the u.s. and iran after the arab countries spotted a u.s. aircraft carrier near their border and i will find out if the us is inching closer to another conflict in the persian gulf the kind of comments that he made about the israelis somebody wants to take us back to the banking system that obtained before the civil war that's pretty strong stuff even for libertarians well there's no denying that the media portrays ron paul as an extremist but are his views really that far out of line with the american people or is he just an easy target in this dirty game of politics.